CB 1.9.1 is not maintained anymore and we do not make security statements on unmaintained releases.
There has been no security-release since then, but given that CB 2.0 is a new code base, it doesn't tell anything for CB 1.9.1.
I don't recall any known high- or medium-level security issue in CB 1.9.1 at the present time, but that statement is only valid at the present minute.
The upgrade from CB 1.9.1 to CB 2.0 is straight forward (unless you changed (aka hacked) the CB code), and CBSubs 3.latest is compatible with CB 2.0. And it is a recommended upgrade all cases, including when only using CB, because of many reasons, one being that you can react quicker in case of a critical release, another one being that you get mobile layouts (mobiles are over half of surfing nowadays), and many more.
Please keep in mind CB 1.x to CB 2.x is a migration. With that comes all the headaches of a migration. Please be sure if you decide to migrate to do so on a clone of your site to know what to expect.
I recommend disabling anything that integrations with CB (K2, Kunena, etc..) and any CB Joomla extensions (admin nav, CBSubs bot, etc..) to avoid CB 1.x API loading during install and possible breaking the migration.
Kyle (Krileon) Community Builder Team Member Before posting on forums:
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Thanks Kyle!! Thanks for highlighting that - in addition to the costs for your support and the purchase cost of CBSubs 4.x, the cost of our required work effort to migrate to CB 2.x and CBSubs 4.x will clearly form a large part in the customer's decision-making process.